LAHORE: Punjab Minister for Cooperatives Malik Muhammad Iqbal Channar has stated that Punjab Provincial Cooperative Bank Limited has started releasing production loans through cooperative societies for kharif crops 2015 throughout the province.
Talking to the media, he said that the bank has fixed the target of Rs2,500 million in this regard. These loans will be issued till June 30, 2015. The bank has fixed the target of issuing loans of 329.70 million for Lahore Zone, 291.17 million for Gujranwala, 76.04 million for Rawalpindi, 160.32 million for Sargodha, 389.93 million for Faisalabad, 385.55 million for Bahawalpur, 275.25 million for Multan, 420.21 million for Sahiwal and 172.05 million for Dera Ghazi Khan Zone.
In addition, the bank is also issuing midterm livestock loans for purchasing tractors and other agriculture equipments and agriculture loans against gold ornaments. Bank has fixed the target of releasing loans more than 11 billion rupees for the year 2014-15. The provincial minister has directed Cooperative Department and bank staff to complete the work of releasing loans and recovery of inactive loans according to fixed targets. He told that the bank will soon start releasing loans for biogas plants, mobile milk chillers, rural business finance, women industrial cooperative livestock phasing and other sectors.
